First-mortgage lending programmes, held to a standard.

Structure

The structure in plain words

1. 01SLC acts as trustee of a master trust, a series trust or a single asset trust, as the programme requires.
2. 02Wholesale investors subscribe into a series or trust.
3. 03Each loan is secured by a first registered mortgage. SLC holds the security as security trustee.
4. 04Your manager entity is appointed as SLC’s corporate authorised representative and investment manager.

Perimeter

Business-purpose lending only

SLC does not hold an Australian Credit Licence. Programmes lend for business purposes to non-consumer borrowers only. Construction lending is available by agreement.

Our role

What SLC does

• Acts as trustee and security trustee.
• Holds the AFSL under which interests are dealt and arranged.
• Reviews and clears the IM for each series issue.
• Administers events of default.
• Supervises your business as a CAR under our published framework.
• Provides registry and fund administration.

Your role

What you do

• Originate, assess and manage the loans.
• Raise capital from wholesale investors. SLC does not bundle distribution.
• Run AML/KYC on your investors.
• Provide the monthly compliance pack and attend quarterly meetings.

Context

Why it matters now

In Report 820 (November 2025) ASIC set out ten principles for private credit. They cover fees and costs, including borrower-paid fees and default interest, conflicts, valuations, liquidity and credit risk. Our IM review and licensee clearance tests each series against them.

Fit

Who it suits

• Managers lending on first mortgage for business purposes.
• Wholesale and sophisticated investors only.
• Managers who want each series cleared and documented before issue.

Perimeter

Who it does not suit

• Lending to consumers.
• Any raise from retail investors.

Process

How it works

1. 01Initial call and readiness check.
2. 02Written proposal confirming the fees.
3. 03Mandate signed.
4. 04Master trust or series documents drafted, diligence completed and training delivered.
5. 05CAR appointment and ASIC notification.
6. 06Series IM cleared and first loan settled.

The process typically takes four to six weeks from mandate to authorisation, depending on document delivery and execution.

Documents may be prepared by GRM LAW. Gavin McInnes, SLC’s Managing Director, is Founding Partner of GRM LAW. You may nominate your own lawyers where there is no conflict.

Fees

Fees

The security trustee fee is $2,500 per loan. IM review and licensee clearance is $7,500 per series issue. The full schedule is on Fees. A written proposal confirms the fees for your programme. Developers raising equity for their own projects should read the Property Development Programme.